Clare Market Investments LLC Takes Position in Waste Management, Inc. $WM

Clare Market Investments LLC purchased a new stake in Waste Management, Inc. (NYSE:WM) in the 1st quarter, HoldingsChannel reports. The fund purchased 19,807 shares of the business services provider’s stock, valued at approximately $4,551,000. Waste Management comprises approximately 1.0% of Clare Market Investments LLC’s holdings, making the stock its 18th largest position.

Several other institutional investors have also made changes to their positions in the stock. Elevated Capital Advisors LLC acquired a new position in Waste Management in the 4th quarter worth about $25,000. Financial Network Wealth Advisors LLC raised its holdings in Waste Management by 55.3% in the 4th quarter. Financial Network Wealth Advisors LLC now owns 132 shares of the business services provider’s stock worth $29,000 after acquiring an additional 47 shares during the period. RHL Group LLC bought a new stake in Waste Management during the fourth quarter valued at about $29,000. Mcguire Capital Advisors Inc. bought a new position in Waste Management in the 4th quarter worth approximately $29,000. Finally, JPL Wealth Management LLC acquired a new position in Waste Management during the 3rd quarter valued at $30,000. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Waste Management Stock Performance

Shares of NYSE WM opened at $235.23 on Tuesday. The stock has a 50 day moving average of $220.41 and a 200-day moving average of $225.46. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 2.22. The company has a market capitalization of $94.46 billion, a P/E ratio of 34.08, a P/E/G ratio of 2.41 and a beta of 0.44. Waste Management, Inc. has a 12 month low of $194.11 and a 12 month high of $248.13.

Waste Management (NYSE:WM) last announced its quarterly earnings results on Tuesday, April 28th. The business services provider reported $1.81 EPS for the quarter, beating analysts’ consensus estimates of $1.75 by $0.06. The business had revenue of $6.23 billion for the quarter, compared to analyst estimates of $6.28 billion. Waste Management had a net margin of 10.99% and a return on equity of 31.90%. Waste Management’s quarterly revenue was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.67 EPS. As a group, equities research analysts predict that Waste Management, Inc. will post 8.15 EPS for the current year.

Waste Management Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Friday, June 5th were issued a $0.945 dividend. This represents a $3.78 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Friday, June 5th. Waste Management’s dividend payout ratio (DPR) is currently 54.70%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on WM shares. Wells Fargo & Company reduced their price objective on shares of Waste Management from $273.00 to $268.00 and set an “overweight” rating for the company in a report on Thursday, April 30th. TD Cowen boosted their price objective on Waste Management from $270.00 to $275.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Canadian Imperial Bank of Commerce upgraded shares of Waste Management from a “neutral” rating to an “outperformer” rating and set a $244.00 target price on the stock in a research report on Tuesday. JPMorgan Chase & Co. raised their target price on shares of Waste Management from $265.00 to $270.00 and gave the company an “overweight” rating in a research note on Friday, April 10th. Finally, Wolfe Research began coverage on Waste Management in a report on Friday, March 13th. They issued a “peer perform” rating for the company. Sixteen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $255.95.

About Waste Management

Waste Management, Inc (NYSE: WM) is a leading provider of integrated waste management and environmental services in North America. The company offers end-to-end solutions that span collection, transfer, disposal and recycling, along with landfill operations and related infrastructure. Headquartered in Houston, Texas, Waste Management serves a broad customer base that includes residential, commercial, industrial and municipal clients.

Core services include curbside and commercial waste collection, roll-off and temporary container services, materials recovery and recycling, and engineered landfill disposal.